Thursday, April 26, 2012

Shady Deals

My cousin Dave works with a Ukrainian woman who taught him a common Ukrainian expression: "Have to borrow the dog's eyes to look you in the eyes".  The meaning wasn't obvious at first (being shady), but has plenty of application with a little context....

Under soviet rule, all property and assets were state assets.  Since its collapse, Ukraine has undergone - and continues to undergo - privatization (selling government assets to private companies....kind of like Chicago selling its parking meters). 

After decades of living under "we are all equal socialism", the transition to a free market seems to have swung the pendulum to the opposite extreme.  Those in top government positions and their friends get the best deals – buying utilities, land and other assets at fire sale prices. 

One of the richest men in the country (~$2B estimated worth) snapped up major state assets for cut-rate prices in 1996-2005 when his father-in-law was president!  Conflict of interest?  Nah!


One of the biggest deals took place last year when the national phone company (Ukrtelecom) was sold for over 10B UAH (~$1.3B).  The shady part being that it was sold when the stock was at record lows AND there was no competition for the deal (only 1 bidder – who by the way is somehow related to the president).


And rumor has it, our neighborhood is thanks to one of those shady land deals.  Our house is ~2-3 lots away from the State Botanic Garden.  Apparently, the Botanic Garden used to be even bigger– but the people running the joint decided they could pull the fence in a bit, sell off some plots and line their pockets.


So you could say, the people involved in the aforementioned deals would “need to borrow the dog’s eyes to look taxpayers in the eye.”


Here's to funny expressions and 'keeping your nose clean' so you don't have to 'borrow the dog's eyes'.

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